RBS launches second DPC to prop up swaps
RBS has set up a DPC to guarantee two securitisation swaps following the UK bank's downgrade – the second such derivatives vehicle it has launched this year
Royal Bank of Scotland has set up a new derivatives product company (DPC) to help fix the problems created by the bank's downgrade earlier this year. The boom-era vehicle is designed to guarantee swaps RBS might otherwise have been forced out of.
The DPC, Nevis Derivatives No. 2, gained an A1 rating from Moody's Investors Service on November 27 – three notches above that of the UK bank – and it
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